BW Offshore secures new $220m credit facility, enhancing financial flexibility

BW Offshore Limited has announced the successful refinancing of its existing Revolving Credit Facility into a new $220 million facility. This new facility, maturing on November 10, 2028, was provided by a consortium of nine international banks.

The new credit facility is priced at a margin of 250 basis points above USD SOFR. Ståle Andreassen, cfo of BW Offshore, expressed satisfaction with the confidence shown by banking partners, noting that the refinancing provides increased financial flexibility and a solid foundation for future growth.

BW Offshore, an Oslo Stock Exchange listed company with approximately 1,000 employees, specializes in engineering innovative floating production solutions. The company operates a fleet of FPSOs, creating tailored offshore energy solutions globally.